Cornell University Survey: 90% Awareness of Bitcoin but Only 13% Understanding; Japan Reports Highest 'Difficult to Understand' Responses Among 25 Countries

90% Awareness but Only 13% Understanding

Cornell University's Tech Policy Institute (Jeb E. Brooks School of Public Policy) has released the latest version of its cryptocurrency awareness survey, the "Bitcoin Adoption Index," which surveyed 25 countries and 25,880 people. The online survey was conducted from December 2024 to March 2025, targeting representative adult populations in each country, with support from the Human Rights Foundation.

According to the survey results, 90% of respondents reported having heard of Bitcoin (BTC), making its awareness higher than any other cryptocurrency. However, only 13% of those aware correctly identified that the maximum supply of Bitcoin is 21 million. A significant 58% responded that they did not know, highlighting a large gap between high awareness and low understanding.

In comparison to awareness, actual ownership is even more limited, with only 13% of respondents stating they currently own Bitcoin. Including those who have owned it in the past but no longer do, the figure rises to 30%, indicating that only a small fraction of those aware take action. This lack of understanding of the mechanisms may be hindering individuals from taking the step to own Bitcoin.

Owners Also Lack Understanding

This lack of understanding is also evident among owners. When asked to self-assess their Bitcoin knowledge on a scale of 10, the average score was only 4.4. Interestingly, for the newer concept of stablecoins, the average self-assessment was 5.4, indicating a higher confidence level than for Bitcoin. This suggests that the understanding of Bitcoin, despite its higher awareness, does not necessarily translate into confidence.

The lack of understanding is also reflected in a skeptical viewpoint. Among all respondents, 46% stated that "there are many scams," and even among owners, 40% agreed. Additionally, 60% of all respondents acknowledged the high volatility, indicating that while understanding of the mechanisms is lagging, caution regarding risks is prevalent.

Japan Reports Highest 'Difficult to Understand' Responses

Looking at the data by country, Japan is not exempt from this knowledge gap. Japan's awareness rate stands at 74%, ranking 24th out of 25 countries (second to last), significantly below the global average of 90%. It is only slightly above the lowest-ranked China (69%), indicating that Japan is somewhat behind the global trend in awareness.

Only 19% of respondents in Japan believe that "Bitcoin enhances financial freedom," placing it last (25th) among the 25 countries. Furthermore, 70% responded that it is "difficult to understand," the highest rate among the countries surveyed, and 60% stated that "there are many scams," ranking second. Globally, 47% of those aware and 79% of owners feel financial freedom, which is significantly higher than the figures reported in Japan.